Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Ruffer wage bill rises 30% as it passes £16 billion mark

2 Comments
Ruffer wage bill rises 30% as it passes £16 billion mark

Ruffer has posted a healthy rise across assets, revenues and profits despite a tough year for some of its managers.

Ruffer enjoyed a 14% increase in assets under management to £15.5 billion over the year to the end of March. The group has since hit £16.1 billion of assets, of which over £7 billion is held in open-ended funds.

This growth boosted Ruffer’s turnover for the period by 11% from £132 million to £146 million and its operating profit by 6% from £108 million to £115 million.

Profit was impacted by slightly higher administrative expenses, though, which climbed by 29% to £31 million. Underlying this were a number of new hires, as headcount swelled from 112 to 119 and the wage bill jumped by 30% to £13 million.

Performance in some of Ruffer’s key funds, however, has suffered recently due to an emphasis on assets such as cash, gold and government bonds. Ruffer’s giant £2.8 billion Total Return fund, for example, has slipped into its sector’s bottom quartile over the past three years. The Ruffer investment trust too has lagged, returning 11.7% over the past year compared with an average of 20% from its Global Growth peer group.

In contrast Ruffer’s Japanese fund, managed by Citywire AAA-rated Kentaro Nishida (pictured), has continued to impress. Its 60% return over the past three years places it third in its sector of 66 for the period.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.

Related Fund Managers

Kentaro Nishida
Kentaro Nishida
65/83 in Equity - Japan (Performance over 3 years) Average Total Return: 14.47%
Citywire TV
Play HSBC's Stephen King warns of 'enormous' Brexit deficit danger

HSBC's Stephen King warns of 'enormous' Brexit deficit danger

Brexit will weaken the economy, fail to boost exports and lessen the country's ability to fund its 'enormous' deficit, according to HSBC's senior economic adviser Stephen King.

Play Premier's Smith: electricity and water can be a good mix

Premier's Smith: electricity and water can be a good mix

Exposing your person to electricity and water simultaneously is ill-advised, but what about your portfolio?

Play Citywire 10k: video highlights

Citywire 10k: video highlights

Citywire held its sixth annual charity run last week, which hosted over 200 people and raised £14,000. Here are the video highlights.

Your Business: Cover Star Club

Profile: gearing up for the shift from consolidation to start-ups

Profile: gearing up for the shift from consolidation to start-ups

‘I think the industry is evolving rapidly, but not necessarily as a whole,’ says the head of recently launched Charles Nicholson AM

Wealth Manager on Twitter